Gotham Asset Management LLC Purchases 78,723 Shares of Southern Copper Co. (NYSE:SCCO)

Gotham Asset Management LLC boosted its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,826 shares of the basic materials company's stock after purchasing an additional 78,723 shares during the period. Gotham Asset Management LLC's holdings in Southern Copper were worth $20,033,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Southern Copper during the 4th quarter valued at approximately $52,738,000. Renaissance Technologies LLC grew its position in shares of Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after buying an additional 381,035 shares during the last quarter. Northern Trust Corp boosted its stake in Southern Copper by 44.9% during the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after purchasing an additional 355,013 shares during the period. Marshall Wace LLP boosted its position in Southern Copper by 49.6% during the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after acquiring an additional 331,319 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in shares of Southern Copper by 26.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock worth $93,759,000 after purchasing an additional 217,546 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. UBS Group decreased their price target on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, StockNews.com upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $91.50.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $0.63 on Tuesday, reaching $92.89. The stock had a trading volume of 36,928 shares, compared to its average volume of 1,209,565. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business's 50-day moving average price is $90.41 and its two-hundred day moving average price is $95.26. The stock has a market cap of $73.96 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. On average, sell-side analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

About Southern Copper

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.